If you are thinking about opening a business bank account for your Partnership business in Trinidad and Tobago, this post is just for you.
S.U.B.S.C.R.I.B.E. to my Youtube Channel.
The general requirements to open a business bank account for a Partnership Business are:
1.Certificate of Registration;
2.Two valid forms of Government issued, photo identification for each Partner;
3.A utility bill for each Partner, if the bill is not in your name, you will need an authorization letter from the person whose name appears on the utility bill and a copy of their unexpired Government issued photo identification. I am always telling my clients to get a utility bill in their name. See my YouTube video where I explain the importance of this.
4.A Business Stamp with your business name on it.
5.Special letters such as a letter of request, a letter requesting online banking.
6.Cash Flow Projections for three years.
7. Some banks require a Board of Inland Revenue (BIR) number;
8.Additional documents such as F.I.U (Financial Intelligence Unit) Registration
9.The minimum deposit payable to the bank, as the first deposit in your account.
10.Partnership Agreement. Some banks will insist on this!
Other documents may be required according to the sector that you operate in.
The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
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